Polymetal marks first concentrate at Nezhda

Right on schedule, Polymetal has confirmed that construction and commissioning have been completed and first concentrate production has been recorded at the Nezhda gold-silver operation in northeast Yakutia, Russia.

The milestone was met on Oct. 16, two weeks ahead of its Nov. 1 target.

The mine is now ramping up the concentrator with a target date for nameplate capacity of April 2022.

Polymetal, which first announced its journey to start-up in late 2018, said it was able to build the 2 million-tonne-per-year combined gravity/flotation concentrator in 38 months once decisions were made on construction. Total project capex by the time of full ramp-up will be approximately US$370 million.

This year, Polymetal will produce up to 30,000 ounces of gold equivalent at Nezhda with average production of 180,000 oz. per year in 2022-2024. A further production upside: the opportunity of processing ore from the high-grade 100%-owned Prognoz silver deposit.

Nezhda, which the miner also owns wholly, has a 24-year mine life. 

Beginning in 3Q22, 100% of energy for Nezhda – which is comprised of open-pit and underground elements – will be sourced via a power line that is under construction; the grid connection will result in a 65% reduction of greenhouse gas emissions from 118,000 tonnes to 42,000 tonnes annually. Its emission intensity level is expected to stand at 624 kg CO2e/oz GE in 2023, in line with its trajectory for carbon footprint reduction of 680 kg CO2e/oz GE by 2025.

The mine’s plant tailings will be stored in the form of dry cake. No impoundments or dam structures will be required.

Source: Polymetal International

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